{"id":1110234,"date":"2019-04-10T23:18:35","date_gmt":"2019-04-10T23:18:35","guid":{"rendered":"http:\/\/www.mining.com\/?p=981430"},"modified":"2019-04-10T23:18:35","modified_gmt":"2019-04-10T23:18:35","slug":"vancouver-junior-gold-exec-fined-for-false-statements-about-pascua-lama","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1110234","title":{"rendered":"Vancouver junior gold exec fined for false statements about Pascua Lama"},"content":{"rendered":"

The president and CEO of Vancouver-based Mountainstar Gold has been slapped with a $150,000\u00a0penalty by the British Columbia Securities Commission<\/a> (BCSC) for making \u201cfalse or misleading statements\u201d regarding the Pascua Lama gold deposit in Chile.<\/p>\n

The panel also permanently prohibited any trading in or purchasing of securities of Mountainstar, previously Mountain-West Resources Inc. In addition to the fine,\u00a0Brent Hugo Johnson\u00a0must resign his role, and is permanently prohibited from taking any similar role. Johnson also was permanently barred from trading in or purchasing securities or exchange contracts; relying on any exemptions of the\u00a0Securities Act<\/em>\u00a0or engaging in investor relations activities.<\/p>\n

A BCSC panel found in\u00a0October 2018\u00a0that Johnson, between 2012 and 2015, made repeated false or misleading statements in its required disclosure documents about Chilean mining claims and related legal proceedings in\u00a0Chile.\u00a0The decision stems from claims that Mountainstar and Johnson made in regards to some of the ground underlying Pascua Lama, at the time a multi-billion-dollar project that Barrick Gold was developing in Chile.<\/p>\n

Mountainstar said that it had an agreement with a Chilean national, referred to as “L” in the decision, and that L had granted the company an option to acquire a group of claims that covered some of the same ground as Pascua Lama. L was undertaking legal action in Chile to obtain the ground and was seeking to have Barrick’s claims cancelled. Mountainstar paid $4.6-million to L under the option agreement.<\/p>\n

The panel said it is unlikely that investors would have invested in Mountainstar if the company had accurately disclosed the facts surrounding the mining claim and related legal proceedings.<\/p>\n

The penalty was the second in less than a year for Johnson. In August 2018, a BC judge found Johnson in contempt of court\u00a0and ordered him jailed for 18 days.<\/a>\u00a0The case related to money Johnson was ordered to pay during a lengthy dispute with Mountainstar’s former president.<\/p>\n

Last month, Chile\u2019s Supreme Court\u00a0ruled in favour of Barrick<\/a>\u00a0(TSX:ABX)\u00a0revoking the permanent closure\u00a0of the Canadian miner\u2019s<\/a>\u00a0Pascua-Lama gold-silver project.<\/p>\n

 <\/p>\n

The post Vancouver junior gold exec fined for false statements about Pascua Lama<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The president and CEO of Vancouver-based Mountainstar Gold has been slapped with a $150,000 penalty by the British Columbia Securities Commission. <\/p>\n

The post Vancouver junior gold exec fined for false statements about Pascua Lama<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[2319,404,369,2320],"tags":[22,25,48],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1110234"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1110234"}],"version-history":[{"count":2,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1110234\/revisions"}],"predecessor-version":[{"id":1110237,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1110234\/revisions\/1110237"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1110234"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1110234"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1110234"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}